SHE:300354 Cash Flow Statement

Financials in millions CNY. Fiscal year is January - December.

Millions CNY. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Jan '23 Jan 1, 2023	Jan '22 Jan 1, 2022
Net Income	136.15	121.88	87.75	121.78	80.02
Depreciation & Amortization	11.13	9.88	9.38	8.86	8.64
Other Amortization	1.11	1.83	0.62	0.67	0.71
Loss (Gain) From Sale of Assets	-0.01	0.02	-0.04	-	-
Asset Writedown & Restructuring Costs	0	-	-	-	1.13
Loss (Gain) From Sale of Investments	-	-	-0.14	-0.56	-0.03
Provision & Write-off of Bad Debts	-	7.11	6.73	8.93	-
Other Operating Activities	1.33	-0.56	2.24	-0.65	0.02
Change in Accounts Receivable	18.5	-104.37	-12.37	-141.61	-30.89
Change in Inventory	3.77	-10.8	-32.84	-4.04	-26.69
Change in Accounts Payable	14.62	14	-58.9	40.74	-6.37
Change in Other Net Operating Assets	-	-	1.1	-	-
Operating Cash Flow	187.83	38.42	4.12	31.38	27.48
Operating Cash Flow Growth	388.83%	831.88%	-86.86%	14.18%	30.15%
Capital Expenditures	-12.92	-23.66	-26.79	-8.05	-11.96
Sale of Property, Plant & Equipment	0.14	0.02	0.23	0.15	0.01
Investment in Securities	-50	-	-	-	-
Other Investing Activities	-0.01	-	0.14	0.56	0.03
Investing Cash Flow	-62.8	-23.65	-26.42	-7.34	-11.92
Short-Term Debt Issued	-	18	-	-	-
Long-Term Debt Issued	19.6	-	-	-	-
Total Debt Issued	19.6	18	-	-	-
Short-Term Debt Repaid	-	-18	-	-	-
Long-Term Debt Repaid	-19.6	-0.72	-	-	-
Total Debt Repaid	-19.6	-18.72	-	-	-
Net Debt Issued (Repaid)	-	-0.72	-	-	-
Repurchase of Common Stock	-	-20	-13.5	-	-
Common Dividends Paid	-24.64	-17.98	-24.45	-24.2	-15.22
Other Financing Activities	-0.18	10.8	15.5	-	-
Financing Cash Flow	-24.82	-27.91	-22.45	-24.2	-15.22
Foreign Exchange Rate Adjustments	-	-	-	0.03	-0
Net Cash Flow	100.21	-13.13	-44.75	-0.13	0.34
Free Cash Flow	174.91	14.76	-22.66	23.33	15.52
Free Cash Flow Growth	1085.03%	-	-	50.28%	29.95%
Free Cash Flow Margin	32.94%	2.94%	-5.99%	6.35%	6.04%
Free Cash Flow Per Share	1.26	0.11	-0.16	0.17	0.11
Cash Income Tax Paid	69.04	56.79	75.19	24.18	23.25
Levered Free Cash Flow	157.72	-27.57	-44.21	-11.67	-18.45
Unlevered Free Cash Flow	157.72	-27.34	-44.19	-11.67	-18.45
Change in Working Capital	38.11	-101.74	-102.42	-107.66	-63

Source: S&P Global Market Intelligence. Standard template. Financial Sources.